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Anti-business Government turns off investors

Anti-business Government turns off investors

National's David Carter says only the economically-illiterate could be buoyed by reports that new foreign investment in New Zealand has fallen to a ten-year low.

Net investment by foreign buyers came in at just under $400 million, around half the total spent in 2001.

The amount of freehold land approved for sale to foreign buyers last year - just over 32,000 hectares - was also the lowest in ten years.

"What these figures show is that overseas investors have clearly lost interest in New Zealand as a place to invest and do business, says Mr Carter, National's Agriculture and Associate Finance spokesman.

"Foreign interests are obviously seeing this Government for what it is - anti-business and quick to strangle any spirit of enterprise.

"Couple this with the number of wealthy New Zealanders fleeing our shores to invest overseas, and the outlook for New Zealand as a strong and vibrant economy is becoming increasingly gloomy," says Mr Carter.

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